Tag #Algoma Steel

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theglobeandmail.com

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Jul 25, 22:12

Trump Threatens Canada with Tariffs, Jeopardizing Trade Deal

President Trump threatened Friday to unilaterally impose tariffs on Canada, jeopardizing ongoing trade negotiations with a stated August 1 deadline; Canadian Prime Minister Justin Trudeau and provincial premiers have expressed concerns over the lack of progress and the potential for negative consequ...

Trump Threatens Canada with Tariffs, Jeopardizing Trade Deal

President Trump threatened Friday to unilaterally impose tariffs on Canada, jeopardizing ongoing trade negotiations with a stated August 1 deadline; Canadian Prime Minister Justin Trudeau and provincial premiers have expressed concerns over the lack of progress and the potential for negative consequ...

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What are the immediate consequences of President Trump's announcement regarding potential tariffs on Canada, and how does it impact the ongoing trade negotiations?

President Trump's statement on Friday regarding potential tariffs on Canada throws the ongoing trade negotiations into jeopardy, jeopardizing the August 1st deadline. Canadian officials have expressed concerns about the lack of progress and their unwillingness to compromise on a subpar deal. This raises concerns about future trade relations between the two countries.

theglobeandmail.com

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Mar 13, 22:11

Algoma Steel Profits Despite Tariffs, Eyes "Buy Canadian" Boost

Despite new U.S. tariffs on Canadian steel imports, Algoma Steel remains profitable due to higher steel prices and anticipates further growth from a potential Canadian "Buy Canadian" mandate; the company also invests $740 million in new electric arc furnace technology to improve efficiency and reduc...

Algoma Steel Profits Despite Tariffs, Eyes "Buy Canadian" Boost

Despite new U.S. tariffs on Canadian steel imports, Algoma Steel remains profitable due to higher steel prices and anticipates further growth from a potential Canadian "Buy Canadian" mandate; the company also invests $740 million in new electric arc furnace technology to improve efficiency and reduc...

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How might the Canadian government's potential "Buy Canadian" policy affect Algoma Steel and the broader Canadian steel industry?

The 25 percent tariffs imposed by the U.S. on Canadian steel imports have created uncertainty in the market, impacting Algoma Steel's operations. However, increased steel prices and potential government support through a "Buy Canadian" policy are creating opportunities for the company. Algoma's transition to electric arc furnace (EAF) technology is further strengthening its position.

theglobeandmail.com

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Jun 2, 22:10

US Steel Tariffs Threaten Algoma Steel's Viability

Algoma Steel CEO Michael Garcia warns that President Trump's 50% tariff on Canadian steel imports could cripple its US operations, adding to existing challenges from foreign steel flooding the Canadian market due to US tariffs, impacting 2750 workers in Sault Ste. Marie, Ontario.

US Steel Tariffs Threaten Algoma Steel's Viability

Algoma Steel CEO Michael Garcia warns that President Trump's 50% tariff on Canadian steel imports could cripple its US operations, adding to existing challenges from foreign steel flooding the Canadian market due to US tariffs, impacting 2750 workers in Sault Ste. Marie, Ontario.

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What are the immediate economic consequences for Algoma Steel and the Canadian steel industry resulting from the 50% US steel tariff?

President Trump's decision to double steel tariffs to 50% significantly threatens Algoma Steel's US operations, potentially rendering them unviable unless steel prices surge. Algoma's US revenue has already dropped from 65% to 50% due to the existing 25% tariff, and further job cuts are underway.

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